Did you know that South Africans are forking out approximately 76% of their salaries on debt repayments as of 2014? We’ve all been there, whether it’s a clothing account, gym membership or student loan, debt repayment is part of the consumer experience in our country. Knowing how to manage that debt and better communicate with creditors and debt collection agencies is key in forging a healthier credit score and wealthier bank account in the immediate future.Continue reading

“Your credit record is your financial ‘good name'. It's your reputation in the eyes of credit- and other service providers and it's one of the most important considerations when deciding if they should lend you money.”

Credit can be useful. Whether you use it to get you through a few rainy days when you know the money will come in soon, to help you purchase a valuable asset or build a business; it can come in handy by allowing you to afford things faster when you need them. In order to be able to take advantage of this opportunity, you will need a good credit score. Your rating with the credit bureau is based on your credit history. If you do not have a good history or simply wish to improve your existing one in order to qualify for more credit, there are a few things you can do.

A “good” credit score depends on the scoring system used by your particular lender. Different scoring systems use different scales. However, if you have a good credit score from one of the credit reporting agencies, you are likely to have a good credit score with your lender.Continue reading

Even with interest rates on the rise, you can still manage your debt. Here's how:

The first quarter of 2014 has hit consumers’ pockets hard: the inflation rate has reached the 5.9% mark after a third consecutive increase in February 2014 and the repo rate, which many predicted would only change in March 2014, was increased by 0.5% at the end of January 2014.Continue reading

Today credit reports are very important when determining one’s credibility. Credit reports contain the details about a person’s history of paying bills, criminal records, whether one has filed for bankruptcy before, where one lives and many other intricate details about a person. An individual’s credibility is crucial when it comes to getting a job, buying a house, getting a credit card, insurance, or transacting other businesses. Seeing how many facets of life are affected by this document, it’s important that the credit reports are accurate and that one has the right to dispute errors on credit reports.Continue reading

You have probably realised by now that there is nothing more important than having a good credit score. Your credit score is the first thing that all lenders and creditors will look at before granting you any form of loan, whether you are looking at applying for a mortgage, personal loan, clothing shop account and even applying for a job. We as South African citizens should know the importance of having a healthy looking credit score in order to maintain a normal lifestyle.Continue reading

Have you, like millions of South Africans; have been denied a loan, clothing accounts, mortgages or even a job? Are you feeling that your life is standing still due to your bad credit rating? In this article will I explain, in depth, on how to remove the bad elements from your credit report, so that you can carry on with your normal life. Continue reading

It is important that your credit should be in a good shape before applying for any type or form of loan. This will help you to see what your credit status is and that you have the correct information for the loan application. You should know that the lenders will always do a credit check on you before granting you that much needed loan and if your credit is nor good and the lenders see it, then it will reflect on your credit report.Continue reading

Are you one of the many South African who struggle to obtain a home loan or other forms of credit, due to the fact that your credit score is to low? You should know that you will not be able to fix your credit over night and that it will take some time fix. There are thus a few things which you can do in order to repair your credit so that you can obtain that much needed mortgage or car finance. In this article will I give some useful tips which you can use to repair your credit over time.Continue reading